Golden Energy Offshore secures new UK North Sea PSV contract
The Norwegian owner's 2015-built Energy Pace will operate on the UK Continental Shelf for what the company calls a first-class international charterer.
Norwegian offshore vessel owner Golden Energy Offshore Services has secured a new term contract for one of its platform supply vessels, adding to its presence on the UK Continental Shelf. The company will deploy its 2015-built Energy Pace under the new agreement, which it said was signed with a first-class international charterer.
The contract covers operations on the UK Continental Shelf, one of the more mature offshore basins in the North Sea, where platform supply vessels remain essential for ferrying equipment, supplies and personnel between shore bases and offshore installations. Securing term work in this market provides Golden Energy Offshore with a period of contracted utilisation for the vessel rather than relying solely on the spot charter market.
Platform supply vessels such as Energy Pace form a core part of offshore support fleets, handling routine logistics for oil and gas production platforms as well as supporting maintenance and construction activity. Demand for PSV capacity in the North Sea has fluctuated with broader offshore investment cycles, making new term contracts a closely watched indicator of underlying market confidence.
For Golden Energy Offshore, the agreement extends the company's footprint in a competitive segment of the offshore support vessel market, where owners vie for a limited pool of term contracts against a backdrop of an ageing regional PSV fleet. Continued interest from international charterers in vessels of this type points to sustained activity levels in UK offshore operations despite the broader energy transition narrative affecting oil and gas investment.
With the new contract secured, Golden Energy Offshore's Energy Pace will remain active in one of the North Sea's most established offshore basins for the duration of the agreed term. The deal adds to a steady stream of PSV contract awards across the region as offshore operators continue routine logistics support for existing production infrastructure.
